ProShare Advisors LLC Sells 6,261 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

ProShare Advisors LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,451 shares of the company’s stock after selling 6,261 shares during the quarter. ProShare Advisors LLC owned 0.09% of MercadoLibre worth $74,694,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of MELI. GQG Partners LLC grew its stake in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $2,913,000. Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of MercadoLibre by 1,432.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after acquiring an additional 119,043 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 0.3 %

Shares of MercadoLibre stock opened at $2,103.75 on Monday. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,157.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The company has a market capitalization of $106.65 billion, a price-to-earnings ratio of 94.13, a P/E/G ratio of 1.33 and a beta of 1.61. The business has a fifty day simple moving average of $1,899.17 and a two-hundred day simple moving average of $1,692.71.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 35.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America raised their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Citigroup raised their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BTIG Research raised their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Barclays raised their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.